Saturday, April 2, 2011
Total Unemployment Numbers Worse Than Federal Government's Touted Numbers...Don't believe the hype being put out by the Politicians and the Media
The BS that is being put out by the Administration and the media on improved employment doesn't tell the whole story - 11.7 Million are either on extended benefits or have gone beyond the limit and get no benefits at all....That is the real story....In a country as prosperous as ours, we have over 11 million people unemployed while the stock market roars to new heights...where & when these people will find new work and what type of job they will be offered is anyone's guess.
Total Unemployment Numbers Worse Than Federal Government's Touted Numbers
San Diego, CA (Vocus/PRWEB) March 28, 2011 Extensive data mining and research by the analytical staff of the Rhino Report indicates the actual employment trends and scenario are far from significantly improved relative to cyclical lows reached in 2009. James Brumley, chief analyst of the Rhino Report, has shared details of the true unemployment picture with the newsletter's subscribers.
Select data from the report are being made public for non-subscribers. The key concerns are:
1. While the shrinking number of initial unemployment claims has been falling since the March of 2009 high of 647K to last month's 385K, the total number of people working in the United States as of the end of February is still under the number of employed workers in late 2008. A total of 147 million people were working in December of 2007, and only 139 million U.S. residents are employed now. That's fewer than were working in March of 2009.
2. While the number of regular ongoing unemployment claims has been falling since the early 2009 peak of 6.3 million, reaching 4.3 million as of last month, the government's reported figure doesn't include the 4.4 million unemployed currently receiving emergency benefits. It also excludes the estimated 3 million who stopped receiving any benefit, yet are still not employed.
Brumley adds that even though the unemployment trend is not getting measurably better in the least, it's not inherently a reason to avoid the stock market. In fact, corporations are almost earning as much money now as they were in late 2007. The stocks in the S&P 500 are projected to be earning at record levels by the end of 2011, and have already dramatically improved since lulls in late 2008 even though the number of employed people since than has fallen.
The implication is that the market does not need strong employment to thrive, as companies have been able to squeeze more from the active workforce. To learn more about this study, the portfolio's stocks, and the site's near-term and short-term outlook, go to the Rhino Report web site located at www.rhinoreport.com for more information.